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prices in seven major chinese cities row rose an average tr a year earlier. that's much higher than expected and it's the first time prices rose across the board after ten straight months of decline. >> the layest property data comes at a time when they might tighten policy. home prices across china gained on month .on year continuing the defy government efforts to cool this market. beijing has led a crackdown on home prices for the last three years. but chinese real estate has been showing signs of a revival since the middle of last year. investors struggled to digest the data. it seemed like they were trying to figure out whether the data had hit a sweet spot. was it a big enough contain or was et small enough to pass under bay ying's radar, yet still confirm signs of a recovery? in any case, the property market is essential to china's overall economic recovery making up more than 10% of gdp. it's a sector that investors and we will continue to monitor closely. back to you guys. >> and on that note, we are learning from hong kong the government has unveiled fresh measurer to cool
turbines are now powering some of america's biggest cities. siemens. answers. >>> let's take a look at u.s. futures. the last time we checked in, the dow was set to open about 11 points at the open. it's peared back just a tad. the dow is still trying to climb back towards that 14,000 level, a time, ross, when frankly more people were talking about warning signs in the market. >>> meanwhile, as far as the european stocks were concerned, and this is where we stand, firmer today. the ibex down 0.3%. the cac 40, ftse and xetra dax up between 0.25% and 0.5%. dollar index is up, kelly. >> that's right. and the dollar/yen, adding 0.5%. so 93.17. aussie/dollar weaker by about 0.5%. a lot of trade across asia is quiet or closed for the lunar new year. >>> france's problems have nothing to do with a single curren currency, but down to the problems itself. he said that the core of the french problem lies inside the cup, not in the foreign exchange rate. this time last week, the french president called for the rights to curve the euro. >>> and the euro group meeting, which is due to star today in b
the city government imposed higher loans. the kospi ended weaker by 0.5%. australia's asx 200 moved back towards its 4 1/2 year high gaining 0.8%. as we had the strong gains in retail and financial stocks. india's sensex are trading higher by about 0.25%. back to you. all right. thanks for that, sixuan. catch you later. >>> still to come on the program will be adam barcelona. taking a look at the hottest trends in the space, find out what the ceo of deutsche has to say about the challenges of taking on the american market. kelly is there. she'll join us in just a few moments. >>> the mobile world congress is under way in barcelona. there's a new hand set based on its firefox web browser for mozilla. the reason i'm on my own is because kelly is there getting all mobile and wired and super fast. hi, kel. >> ross, it is great to see you guys out here in barcelona. i wish i could say the weather is a little warmer. it's surprisingly chilly here. and the chilly economic environment across europe also having an impact. some of the bigger european and american names have skilled down their pres
who make promises that will never be fulfilled, my city has demonstrated you can make real contributions to provide the economy to businesses in trouble. we pay off our debt to business necessary time and this prevents companies from going bankrupt. but they still need help. we need to reduce the fiscal pressure and cut the cost of employment without damaging workers and their rights. >> it's fashion week here in milan. you only have to be here to get the sense of pride that people feel about this industry. how do you get that to translate to other sectors and the political system, too? >> translator: i think we can bring back pride to our politics giving a strong sign of renewal. i was in the uk and when i said i was a lawyer from italy, from milan, all people could talk about was bunga bunga. now that has changed. i've been invited to talk about the school of economics. i see when i go abroad, when foreign officials come to milan, the city is once again a focal point and there's a willingness to discuss and trade. >> the more foishlgs and public i speak to here, the more
at citi's expectations. trade's been volatile. shares fractionally lower. >>> let's check the broader landscape. two european markets are a little higher. xetera dax adding .3 after a strong performance yesterday on the strong zew survey. bond rates, we haven't seen as much focus on the space. it tells you something. the ten year in spain, 5.15%, under 4.4 for italy ahead of the elections on sunday. over to forex, the euro yesterday was initially stronger. gave up ground. today, adding .2% to 134. the yen giving up another .3%, heading back toward the 93 level. for more let's check in with li from singapore. >> reporter: thank you. asian shares climbed to the highest level in 1.5 years on an improving global outlook. the nikkei managed to close at a 52-month high despite a record trade deficit in january. investors are still awaiting the decision for the next boj chief. toyota shares gained 1.7% after thenique reports. the carmaker will ramp up production in april by 10% on expectations of higher domestic sales and more profitability due to a weaker yen. japan tobacco lost 1% an reute
driven downturn. >> and there are forecasts now. i thought it was nomura city. whichever bank, i apologize. talking about spanish gdp by 4%. >> one shouldn't exaggerate. span entered the crisis in a relatively comfortable position debtwise. the problem is, the scale of the economic downturn and the fact that the -- the costs of the bank bailout have been basically settled, have saddled spain to even higher debt. that's clearly undermined spain's creditworthiness. >> the thing is, is what we're seeing here just something that's going on in january? because with such easy money in the world and the fact that if you're a fixed income investor, real returns are negative. are we driving fixed income investors not just in the sovereign market, but, you know, they're not going to -- they can't switch out of fixed income into equity. we talk about them looking at structured credit now seems to be flying, investment grade is overvalued. i wonder if that's what's going on here, if you can find the spanish debt at 5%, it's still better than other stuff you could buy. >> what we're seeing he
quarter. maybe some positive news there. tina, from citi, she's been taking a look at what the president has to do, i guess, in his second term or what he's expected to do. what i loved was your point, how did you put it? fiscal deals or compromise tend to disappear in washington like -- >> the bermuda triangle. >> you don't have high hopes for compromise here? >> no. most politicians in the developed world, and the u.s. very much within this, it's not going to see -- i'm not going to provide fertile ground for grand bargains. politicians like to talk about it. this is their way of saying, we're ready to do a deal, but it's those guys, they won't compromise. we think we'll see more of this piecemeal last minute compromises. >> and we're fating critical issues in the u.s. people might be aware of the fiscal cliff, but there's the continuing resolution, there's the sequester that goes into effect march 1st. should we hold our breath for compromise here? and, again, the issue is being forced because these are situations in which if there's no action, something still happens. >> that's right
. everything is an additional 50%, 60%. an expensive city. so we'll see. it sounds like if mark carney actually doesn't come out with some of the more dovish statements on thursday people are expecting, the other thing could happen. we could be backing up toward 1.60 again. we'll see. mark, i hope you're listening. i'm kidding. >> between 1.50, 1.65 is -- what the exchange rate should be for dollar/sterling. that band is the comfortable trade weighted. it's about right. >> okay. >> and now, hsbc taking a turn in the hot seat this morning, appearing before the parliamentary commission on banking standards. hsbc ceo stewart gulliver and chairman douglas flint giving answer as we speak. just to let you know that that's happening. and there's plenty of corporate news, as well, today. >> that's right. disney's first-quarter profits fell 6% in part because of rising costs to buy sports content for espn. the company is exploring an exit from espn in the u.k. excluding that, results beat forecasts as revenues rose 5%. disney does see better quarters ahead thanks to strong film slate and improving theme
in this regard, i'm moving from one of the least expensive capital cities in the world, ottawa, to one of the more expensive, shall we say, capital cities in the world, london. >> would you have done the job for less? >> i was offered these terms and i accepted them. >> do you see there might be any resentment amongst staff at the level of your pay package? i'm not aware of any. >> you don't anticipate that in any way? >> i don't anticipate -- if i may say in terms of the pay package, the pay package is, if i may, properly viewed as pay pension and -- >> mark carney continuing to talk about the logistics of it as taking on the role of the head of the bank of england. we can already tell you from statements that are on the wire that he's talking a lot about the exit strategy. he's saying there are limits, you know, to changing the policy framework that the blank of england might pursue. let's bring tom vosa back in here. tom, i have to say there's a generally hawkish tenor to what we're seeing so far. we've seen the spike in the pound as a result of this. what do you make of that? >> we
's calling in at jfk. everyone is trying to get out of the city before the storm hits. but everything starting from now is basically canceled. >> it will be hard. if you are stuck, there's within thing you can do. >> which is? >> turn the tv on. >> and watch cnbcwex. >> get your food in -- >> and -- >> no, no, the entire channel is fine. you don't have to just watch "worldwide exchange." there are worse things you could do. >>> still to come on the show, apple says it's considering returning cash to shareholders after coming under pressure from david einhorn. more details when we come back. . this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. [ male announcer ] ok, here's the way the system works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "
moments. >>> and the mayor of london boris johnson says the city will remain at the heart of europe's financial services industry. >> i think that london and the uk will remain for our lifetimes the economic financial powerhouse of the european union. i don't think that there's going to be any change in that. it's inevitable after the shake up that we've seen in the last few years that there will be downsizing in some of these banks but that doesn't mean that you won't continue to see huge number oefs people employed in financial services in this city. this place, london, has the right time zone, it has the right combination of skill, it has the right language to be the best place on earth in which to raise capital in the global economy. >> and the situation surrounding greece and cypress has taken center stage at the euro group talks. silvia wadhwa call up with olli rehn and asked him just what was decided on cypress. >> we have plenty from cypress on the bond program for cypress could be taken in the course of the much. and the other things to watch to get our partner wes detroit
of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> happy valentine's day. americans will spend $18.6 billion to express their love. men tend to spend more, $176, while females spend on average $89. wow. big business. joining us know is the owner of rennie and reed forest. reed and angus, hello and welcome to you both. happy valentine's day, i should say. reed, how big a day is it for you and what are some of the more unusual requests you tend to get? >> it's a big day. whether it's the weather or whether it's clientele, we had an order yesterday for a 1,000 rose arrangement, which we'll be sending out first thing this morning. this is an individual we see a couple times throughout the last three years and it keeps us on our toes. >> i see you have the low ask lush. i thought that was something that happens at the end of valentine's day. apparently it's a mixed floral. it's popular. are guys any good at this, reed? how much are they spending on average this year compared to five years ago? >> guys are good at it because their hear
in a position -- it's been a pretty awful episode for the city of london, a lot of big advisers, jpmorgan, credit suisse, some of the lawyers, price waterhouse coopers, a lot of people who are on the board of bumi, all of them have tarnished reputations as a result of this scandal. >> whose fault is that? >> that's a good question. and there's still a bitter takeover by the panel going on as to exactly who knew what when the fundamental issues about funds that have gone missing from the company before it was brought to the london market. >> and nat rothschild has a lot of complaints about that money. the question is whether he knew about it before he brought this company to the london market, anyway. >> he calls the current management team a disaster. the company is uninvestble. we have to get out the cancer, he says. >> bumi has made a lot of commitments as to what they will do if this vote is won. they certainly sent a message that the current chairman will step down, the backrie family have offered to buy out half the company in return for their own shares in bumi. so in theory, at lea
. >>> it was a budget day in hong kong. we'll head out east to get all the data as the city's poised to enjoy a return to higher growth. >>> and we fly tout singapore to speak to the global head of trade at hspc who think that the face of trade is changing as more high-end products are due to be exported out of emerging markets. >>> bides all of that -- besides all of that, the focus is on the auction in italy. that will hit the tape in an hour and ten minutes. how much will italy have to pay for its political impasse? rome looking to sell between three and four billion euros of a ten-year issue. this was the six-month auction producing the most since 2012, up around 50 basis points. this is where the euro is trading ahead of the auction. 130.79 where we stand currently. yesterday we were down at seven-week low of around 1,317 -- 1.3017. it's warned in italy that a loss of investor confidence could increase borrowing costs and reignite the debt crisis. as for italy's politicians, the leader of the center left coalition has vowed that he would try to form a government and seek an alliance that would re
than the annual salary. the city of london, seen as a major loser in this deal. it has an estimated 150,000 staff potentially affected and i just have to say, i keep thinking i'm missing something on this story because if this actually happens, ross, the impact would be -- it would have a major impact on the city, especially at the top. what does it mean for the banks? what does it mean for the potential returns when you look at comp and return on investment for, you know, return investment capital for some of these financial names? >> look, if you're freezing pay bonuses at one times salary, which for the investment bank is quite a dramatic change, what will the reaction be? obviously, a lot of people leaving banks or you'll see -- which i suspect you'll also get an awful lot of complex pay deals coming up. >> that, too. >> and there's a lot of ways to try and get around it. >> credit suisse and some are trying to pay with derivatives. there may be different kinds of comp. but if you're talking about the best and the most talented, you could argue about that in the banking sector alway
of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now, mr. bersani of the democratic party. but i think the important thing to point out here is there's still a third of voters out there that haven't made a decision, in part because of the scandals we've had in the last few months making it difficult for people to decide. for mario monti's point of view, it can't hurt. berlusconi came out immediately and said he's not willing to face mario monti. he doesn't want questions on his economic policy. but one of the things that gets banded around here is if he's more interesting in addressing his legal issues. you know, my accepts from that is that actually, despite what's going on in the markets, the relative calm appearance right n
that translates into consumer goods and at the top end luxury brands. china is building 221 new cities from now to 2025. so there is a huge demand for the basic kind of commodities that is building roads, bridges, highways, motor base and so on and so forth. so i think there is a market for some of the dmodties there. and that, of course, is the asian profile in the region as the company size, as the family size is dwindling. so that, again, translates to demand for health products, lifestyle products and so on. so i think there is a lot of the positive area to look forward to in the region. >> andrew, we've been talking a lot, of course, about currency today with the g-20, as well. will currency have a factor to play on m&a? i'm presuming if your country is strengthening or weakening, that changes the economics quite a lot. >> yeah, sure. as i was saying in the beginning, the whole world is printing money. so certain currencies are -- especially the japanese yen on a down turn. and then on the other hand, the renminbi, the chinese yen is gradually on the up trend. so you can play both ways. an
a little bit more with tina ford, who is senior political analyst at citi. it's a shame we couldn't get the full information in. we've now got with the gridlock here, what is -- i know there are many options. what do you think is the most likely? is a fresh election more likely than us coupling together some kind of coalition? >> i don't think so. at least not yet. to address your question, the next government probably won't last its full five-year term. however, fresh -- >> what is the next government? >> well, we'll get to that. there's no mon date here for austerity. you have a fragmentation amongst political parties, cobbling together a coalition is going to be difficult. historically, a coalition takes three to four weeks and it's not likely to be any quicker with this result. we are looking in the short term in weeks and probably months of political uncertainty. we have presidential elections coming, too. but in terms of fresh elections, they can't happen as quickly as they did in greece where they happened a month later. >> bettrsani will be first up trying to form a government.
expected. what's it mean? joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot up sharply in the past few years. again, company and country specific because of the issues they've faced with the power. they've also faced social issues around
Search Results 0 to 18 of about 19